The Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) has provided life insurance coverage of ₹2 lakh to over 21 crore beneficiaries, ensuring financial security for families during times of uncertainty, the finance ministry said on Saturday.
In a post on social media platform X, the ministry shared that cumulative enrolment under PMJJBY stood at 21.67 crore, with 860,575 claims received, amounting to ₹17,211.50 crore as of October 20, 2024.
PMJJBY is a one-year renewable life insurance scheme offering coverage for death due to any reason. Individuals aged between 18 and 50 years with a bank or post office account are eligible to enroll in the scheme. Those who join the scheme before turning 50 can continue to avail life coverage up to the age of 55, subject to regular premium payment.
The scheme provides a life cover of ₹2 lakh in case of death due to any reason, against an annual premium of ₹436.
The Finance Ministry also shared updates on the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and the Pradhan Mantri Jan Dhan Yojana (PMJDY).
Nearly 48 crore individuals have enrolled for ₹2 lakh accident insurance coverage under PMSBY, while PMJDY has attracted over 54 crore beneficiaries.
As per official data, cumulative enrolment under PMSBY has reached 47.59 crore, with 193,964 claims received and 147,641 claims disbursed.
As of August 14, 2024, the total number of PMJDY accounts stands at 53.13 crore. Among these, 55.6 percent (29.56 crore) are held by women, and 66.6 percent (35.37 crore) are in rural and semi-urban areas.
The ministry also noted that the total deposit balance under PMJDY accounts amounts to ₹2,31,236 crore. This reflects a 15-fold increase in deposits and a 3.6-fold increase in accounts as of August 15, 2024.